Facebook conversations with CFTC to launch GlobalCoin

Posted 03 June, 2019


The management of the largest American social network Facebook is discussing the launch of its cryptocurrency GlobalCoin with the Commodity Futures Trading Commission (CFTC).

Today it has become known that negotiations are at a very early stage - the financial regulator determines whether the initiative of the media platform falls under the authority of the CFTC.

CFTC CEO Christopher Giancarlo confirmed that the commission is in “very early stages of conversations” with Facebook, trying to realize whether the company’s plans to create a digital coin fall under the control of the regulator.

Facebook talks with the CFTC began, at a time when government regulators have yet to develop precise rules for the so-called “digital Wild West”.

 

“We’re very interested in understanding it better, we can only act on an application, we don’t have anything in front of us.” - said Mr.Giancarlo.

It also became known that the leadership of the social network came to the US Treasury, whose powers, among other things, include issues of illegal activities based on digital assets. Facebook informed the agency about its project and development prospects.

Recall, Facebook announced plans to launch its own cryptocurrency in the third quarter of 2019.

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03 June, 2019 12:06

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